Adani Power Q3 results: Net profit up 12% at Rs 3,057 crore, QIP approved
Adani Power Q3FY25 results: The board of directors approved raising funds for an aggregate amount not exceeding Rs 5,000 crore through the QIP route
 "Adani Power Q3 results: Net profit up 12% at Rs 3,057 crore, QIP approved")
Adani Power on Wednesday reported a 11.7 per cent rise in consolidated net profit at Rs 3,057.21 crore for the third quarter (Q3) of the financial year 2024-25 (FY25) from Rs 2,737.96 crore reported during the same period last year. Sequentially, net profit grew marginally by 2.5 per cent from Rs 13,338.88 crore.
Consolidated revenue from operations rose marginally by 5.2 per cent to Rs 13,671.18 crore year-on-year (Y-o-Y) from Rs 12,991.44 crore. On sequential basis, however, revenue dropped 8.4 per cent from Rs 3,337.80 crore.
Total expenses for the company grew by 6.2 per cent Y-o-Y to Rs 10,774.80 crore from Rs 10,144.89 crore and 8.5 per cent quarter-on-quarter (Q-o-Q) from Rs 9,928.76 crore. Fuel, which makes up nearly 70 per cent of expenses went down marginally by 1.6 per cent Y-o-Y to Rs 7,424.72 crore from Rs 7,548.98 crore, but rose 6 per cent Q-o-Q from Rs 7,032.22 crore.
The board of directors also approved raising funds for an aggregate amount not exceeding Rs 5,000 crore through the qualified institutional placement (QIP) route, the company said in an exchange filing.
The board also approved the enhancement of its previously-approved fundraising plan from Rs 5,000 crore to Rs 11,000 crore via non-convertible debentures (NCDs).
Shares of Adani Power were trading at Rs 523.5 on the BSE a 1:35 pm, up more than 5 per cent after the Q3FY25 financial results were released.